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Avoiding the cost of your conscience: belief dependent preferences and information acquisition

Author

Listed:
  • Claire Rimbaud

    (LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique)

  • Alice Soldà

Abstract

Pro-social individuals typically face a trade-off between their monetary incentives and their other-regarding preferences. When this is the case, they may be tempted to exploit the uncertainty in their decision environment to reconcile this trade-off. In this paper, we investigate whether individuals with belief-dependent preferences acquire information about others' expectations in a self-serving way. We present a model of endogenous information acquisition and test our theoretical predictions in an online experiment based on a modified trust-game in which the trustee is uncertain about the trustor's expectations. Our experimental design enables us to identify participants with belief-based preferences and investigate their information acquisition strategy. Consistent with our predictions for subjective belief-dependent preferences, we find that most individuals classified as belief-dependent strategically select their source of information to avoid the cost of their conscience.

Suggested Citation

  • Claire Rimbaud & Alice Soldà, 2024. "Avoiding the cost of your conscience: belief dependent preferences and information acquisition," Post-Print hal-04702729, HAL.
    • Handle: RePEc:hal:journl:hal-04702729
    as

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